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GARLAND, Texas - Massimo Group (NASDAQ: MAMO), a manufacturer and distributor of personal transportation vehicles with a market capitalization of $117 million, has announced the relocation of its MVR Golf Cart series production to Garland, Texas. This strategic move comes as a response to recent U.S. trade regulator actions against unfair practices in the low-speed vehicle market. According to InvestingPro data, the company maintains strong financial health with liquid assets exceeding short-term obligations.
The U.S. Department of Commerce has imposed countervailing duties and antidumping tariffs ranging from 149% to 500% on certain foreign manufacturers, following an investigation into unfair trade practices. These manufacturers, which benefited from government subsidies, were found to export vehicles at significantly lower costs, creating an uneven playing field.
By transitioning production to the U.S., Massimo aims to ensure stricter quality control and better position itself within the domestic market. David Shan, CEO of Massimo Motor, emphasized the company’s commitment to delivering high-quality golf carts and ensuring long-term business sustainability. The company’s strong financial position is reflected in its impressive 30% revenue growth over the last twelve months and healthy EBITDA of $12.75 million.
Massimo is also exploring strategic partnerships in Vietnam to diversify its supply chain and mitigate potential cost increases due to tariffs affecting imports from China. The company’s decision to shift production domestically is seen as a proactive measure to address trade challenges and maintain its competitive edge in the U.S. market.
The MVR Series golf carts will continue to be available through Massimo’s extensive network of retail and dealer partners across the United States. This move is expected to reinforce the company’s role as a leader in the personal transportation market while maintaining product availability for customers and dealer partners.
Founded in 2009, Massimo Motor offers a range of powersports vehicles, including utility UTVs, recreational ATVs, and mini-bikes, as well as electric versions of UTVs, golf carts, and pontoon boats. The company prides itself on innovative design, quality craftsmanship, and customer service. InvestingPro analysis suggests the stock is currently undervalued, with additional ProTips available to subscribers revealing insights about the company’s debt management and cash flow efficiency. To access more detailed analysis and discover other undervalued opportunities, visit InvestingPro’s Most Undervalued Stocks.
This news is based on a press release statement from Massimo Group. The company’s forward-looking statements within the release are subject to risks, uncertainties, and assumptions, and actual results may differ materially from those projected.
In other recent news, Massimo Group has reported strong sales growth for the fiscal year 2023-2024, despite industry challenges. The company attributes its success to high-quality products, operational efficiency, and customer satisfaction. Massimo Group has also announced plans to launch new products in 2025, including all-weather vehicles that cater to the increasing demand for electrification and sustainability.
In addition, Massimo Group has opened a new distribution center in Edwardsville, Illinois, to enhance its logistics network and service capabilities across the United States. The company has also implemented a new robotic assembly line designed to enhance production efficiency by 50% and introduced new models to its T-Boss line of UTVs.
On the other hand, Vision Marine Technologies disclosed its unaudited condensed interim consolidated financial statements for the three months ended November 30, 2024. The details were made public in a Form 6-K filing with the Securities and Exchange Commission.
These are among the recent developments for both companies.
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